2 ms·

TIL when you convert back and forth foreign currency, you have to declare capital gains. I'm not sure a lot of people realize it either.

• fortran77 7y ago
  I think people who trade foreign money as an investment strategy realize this.
  • jobigoud 7y ago
    Probably, yes. But everyone else is still subject to this law. For example the UK pound may or may not go down in value in case of hard brexit, if a brit had some euros stashed and the pound crashed, they would have to pay capital gains when exchanging their euros back into pounds.
    • NikkiA 7y ago
      Unless the total value is under £6000. Important to make sure not everyone panics about the €500 they brought back from their holiday :)